High-End Senior Housing Coming to Brooklyn Heights
The $330-million redevelopment of 21 Clark St. by Watermark Retirement Communities and partner Kayne Anderson Real Estate is proceeding on schedule for an early 2020 opening.
Reportedly Brooklyn’s first high-end senior housing community, the Watermark at Brooklyn Heights is a conversion of the historic Leverich Towers Hotel, which later served as Jehovah’s Witnesses residences.
“Urban senior housing properties are an attractive alternative real estate investment segment within a rapidly growing market,” said Kayne Anderson Real Estate CEO Al Rabil. “We are proud to lead this market sector nationally with our partner, Watermark.”
The building’s 275 apartments will include 29 for independent living, 204 for assisted living and 42 for memory care. It will also include 50,000 square feet of amenity spaces.
The Watermark project team also includes development partner, minority owner and construction owner’s representative Tishman Speyer; architect Montroy DeMarco Architecture; interior designer Lemay+Escobar; and contractor Hudson Meridian.
Source: Connect New York
The former Leverich Towers Hotel at 21 Clark Street in Brooklyn Heights has had many lives—a residential hotel for wealthy Brooklynites, a Yiddish radio station and apartments for Jehovah’s Witnesses. Now it’s being renovated into a high-end senior living facility...
A luxury residential building moving to completion in Brooklyn, N.Y. has a unique mission: creating a medically equipped structure that also is amenity-rich and features high-end design for older New York City adults. The project team on the $330-million Watermark in...
New York, NY Although the Wall Street area's commercial real estate has been changing its tenant base away from the financial industry since the 1990's, the repositioning of older properties has picked up pace in the recent years. The Financial District landlords...